Protecting Consumers from Market Manipulation Act This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities. The Financial Stability Oversight Council and the Federal Reserve must report on issues related to digital currency.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Sponsor introductory remarks on measure. (CR E1468)
Introduced in House
Referred to the House Committee on Financial Services.
Sponsor introductory remarks on measure. (CR E1468)
Finance and Financial Sector
Administrative law and regulatory proceduresBanking and financial institutions regulationCongressional oversightCorporate finance and managementCurrencyDigital mediaFederal Reserve SystemGovernment studies and investigationsInternet and video servicesInternet, web applications, social mediaMonetary policy
Protecting Consumers from Market Manipulation Act
USA116th CongressHR-5180| House
| Updated: 11/19/2019
Protecting Consumers from Market Manipulation Act This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities. The Financial Stability Oversight Council and the Federal Reserve must report on issues related to digital currency.
Administrative law and regulatory proceduresBanking and financial institutions regulationCongressional oversightCorporate finance and managementCurrencyDigital mediaFederal Reserve SystemGovernment studies and investigationsInternet and video servicesInternet, web applications, social mediaMonetary policy